Five Below (FIVE) 10-Q 1 Sep 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 30, 2022	Aug. 31, 2022
Cover [Abstract]
Document Type	10-Q
Entity Registrant Name	Five Below, Inc.
Document Period End Date	Jul. 30, 2022
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35600
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	75-3000378
Entity Address, Address Line One	701 Market Street
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Title of 12(b) Security	Common stock
Trading Symbol	FIVE
Security Exchange Name	NASDAQ
Entity Central Index Key	0001177609
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Entity Address, Postal Zip Code	19106
City Area Code	215
Local Phone Number	546-7909
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		55,507,194

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Current assets:
Cash and cash equivalents	$ 155,101,000	$ 64,973,000	$ 126,195,000
Short-term investment securities	117,315,000	277,141,000	286,929,000
Inventories	569,201,000	455,104,000	347,302,000
Prepaid income taxes and tax receivable	14,371,000	11,325,000	9,410,000
Prepaid expenses and other current assets	107,771,000	96,196,000	69,504,000
Total current assets	963,759,000	904,739,000	839,340,000
Property and equipment, net of accumulated depreciation and amortization of $412,312, $363,254, and $317,499, respectively.	842,002,000	777,497,000	677,183,000
Operating lease assets	1,267,316,000	1,151,395,000	1,086,386,000
Long-term investment securities	0	37,717,000	1,104,000
Other assets	13,149,000	9,112,000	18,921,000
Total assets	3,086,226,000	2,880,460,000	2,622,934,000
Current liabilities:
Line of credit	0	0	0
Accounts payable	266,114,000	196,461,000	167,704,000
Income taxes payable	0	28,096,000	931,000
Accrued salaries and wages	19,983,000	53,539,000	41,654,000
Other accrued expenses	159,976,000	145,268,000	141,520,000
Operating lease liabilities	184,450,000	163,537,000	150,041,000
Total current liabilities	630,523,000	586,901,000	501,850,000
Other long-term liabilities	4,077,000	1,663,000	1,291,000
Long-term operating lease liabilities	1,247,631,000	1,135,456,000	1,081,555,000
Deferred income taxes	41,414,000	36,156,000	35,778,000
Total liabilities	1,923,645,000	1,760,176,000	1,620,474,000
Commitments and contingencies (note 6)
Shareholders’ equity:
Common stock, $0.01 par value. Authorized 120,000,000 shares; issued and outstanding 55,507,931, 55,662,400, and 56,022,278 shares, respectively.	555,000	556,000	560,000
Additional paid-in capital	248,902,000	280,666,000	327,211,000
Retained earnings	913,124,000	839,062,000	674,689,000
Total shareholders’ equity	1,162,581,000	1,120,284,000	1,002,460,000
Total liabilities and shareholders' equity (deficit)	$ 3,086,226,000	$ 2,880,460,000	$ 2,622,934,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 412,312	$ 363,254	$ 317,499
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000	120,000,000
Common stock, shares issued (in shares)	55,507,931	55,662,400	56,022,278
Common stock, shares outstanding (in shares)	55,507,931	55,662,400	56,022,278

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Income Statement [Abstract]
Net sales	$ 668,927	$ 646,554	$ 1,308,523	$ 1,244,377
Cost of goods sold	440,418	416,235	873,237	813,189
Gross profit	228,509	230,319	435,286	431,188
Selling, general and administrative expenses	172,498	144,151	336,946	281,333
Operating income	56,011	86,168	98,340	149,855
Interest income (expense) and other income (expense), net	95	(1,071)	(142)	(2,048)
Income before income taxes	56,106	85,097	98,198	147,807
Income tax expense	14,762	20,256	24,136	33,370
Net income	$ 41,344	$ 64,841	$ 74,062	$ 114,437
Basic income per common share (dollars per share)	$ 0.74	$ 1.16	$ 1.33	$ 2.04
Diluted income per common share (dollars per share)	$ 0.74	$ 1.15	$ 1.33	$ 2.03
Weighted average shares outstanding:
Basic shares (in shares)	55,498,471	56,007,970	55,572,425	55,989,399
Diluted shares (in shares)	55,646,039	56,299,491	55,739,752	56,287,095

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($)	Total	Unrestricted stock	Common stock	Common stock Unrestricted stock	Additional paid-in capital	Additional paid-in capital Unrestricted stock	Retained earnings
Balance, common stock, shares at Jan. 30, 2021			55,935,237
Balance at Jan. 30, 2021	$ 881,886,000		$ 559,000		$ 321,075,000		$ 560,252,000
Issuance of unrestricted stock awards (in shares)			92,914	400
Share-based compensation expense and issuance of unrestricted stock awards	5,695,000	$ 81,000			5,695,000	$ 81,000
Exercise of options to purchase common stock (in shares)			200
Exercise of options to purchase common stock	6,000				6,000
Vesting of restricted stock units and performance-based restricted stock units	1,000		$ 1,000
Common shares withheld for taxes (in shares)			34,682
Common shares withheld for taxes	(6,623,000)				(6,623,000)
Net income	49,596,000						49,596,000
Balance, common stock, shares at May. 01, 2021			55,994,069
Balance at May. 01, 2021	930,642,000		$ 560,000		320,234,000		609,848,000
Balance, common stock, shares at Jan. 30, 2021			55,935,237
Balance at Jan. 30, 2021	881,886,000		$ 559,000		321,075,000		560,252,000
Net income	$ 114,437,000
Balance, common stock, shares at Jul. 31, 2021	56,022,278		56,022,278
Balance at Jul. 31, 2021	$ 1,002,460,000		$ 560,000		327,211,000		674,689,000
Balance, common stock, shares at Jan. 30, 2021			55,935,237
Balance at Jan. 30, 2021	$ 881,886,000		$ 559,000		321,075,000		560,252,000
Repurchase and retirement of common stock (in shares)	(368,699)
Repurchase and retirement of common stock	$ (60,000,000)
Balance, common stock, shares at Jan. 29, 2022	55,662,400		55,662,400
Balance at Jan. 29, 2022	$ 1,120,284,000		$ 556,000		280,666,000		839,062,000
Balance, common stock, shares at May. 01, 2021			55,994,069
Balance at May. 01, 2021	930,642,000		$ 560,000		320,234,000		609,848,000
Issuance of unrestricted stock awards (in shares)				413
Share-based compensation expense and issuance of unrestricted stock awards	6,457,000	80,000			6,457,000	80,000
Exercise of options to purchase common stock (in shares)			10,246
Exercise of options to purchase common stock	352,000				352,000
Vesting of restricted and performance-based stock units (in shares)			17,339
Common shares withheld for taxes (in shares)			1,879
Common shares withheld for taxes	(355,000)				(355,000)
Issuance of common stock to employees under employee stock purchase plan (in shares)			2,090
Issuance of common stock to employees under employee stock purchase plan	443,000				443,000
Net income	$ 64,841,000						64,841,000
Balance, common stock, shares at Jul. 31, 2021	56,022,278		56,022,278
Balance at Jul. 31, 2021	$ 1,002,460,000		$ 560,000		327,211,000		674,689,000
Balance, common stock, shares at Jan. 29, 2022	55,662,400		55,662,400
Balance at Jan. 29, 2022	$ 1,120,284,000		$ 556,000		280,666,000		839,062,000
Issuance of unrestricted stock awards (in shares)				718
Share-based compensation expense and issuance of unrestricted stock awards	5,857,000	117,000			5,857,000	117,000
Exercise of options to purchase common stock (in shares)			2,402
Exercise of options to purchase common stock	79,000				79,000
Vesting of restricted and performance-based stock units (in shares)			99,124
Vesting of restricted stock units and performance-based restricted stock units	1,000		$ 1,000
Common shares withheld for taxes (in shares)			26,151
Common shares withheld for taxes	(4,107,000)				(4,107,000)
Repurchase and retirement of common stock (in shares)			(247,132)
Repurchase and retirement of common stock	(40,007,000)		$ (2,000)		(40,005,000)
Net income	32,718,000						32,718,000
Balance, common stock, shares at Apr. 30, 2022			55,491,361
Balance at Apr. 30, 2022	$ 1,114,942,000		$ 555,000		242,607,000		871,780,000
Balance, common stock, shares at Jan. 29, 2022	55,662,400		55,662,400
Balance at Jan. 29, 2022	$ 1,120,284,000		$ 556,000		280,666,000		839,062,000
Repurchase and retirement of common stock (in shares)	(247,132)
Repurchase and retirement of common stock	$ (40)
Net income	$ 74,062,000
Balance, common stock, shares at Jul. 30, 2022	55,507,931		55,507,931
Balance at Jul. 30, 2022	$ 1,162,581,000		$ 555,000		248,902,000		913,124,000
Balance, common stock, shares at Apr. 30, 2022			55,491,361
Balance at Apr. 30, 2022	1,114,942,000		$ 555,000		242,607,000		871,780,000
Issuance of unrestricted stock awards (in shares)				864
Share-based compensation expense and issuance of unrestricted stock awards	6,007,000	$ 116,000			6,007,000	$ 116,000
Exercise of options to purchase common stock (in shares)			550
Exercise of options to purchase common stock	22,000				22,000
Vesting of restricted and performance-based stock units (in shares)			13,625
Common shares withheld for taxes (in shares)			2,681
Common shares withheld for taxes	(314,000)				(314,000)
Issuance of common stock to employees under employee stock purchase plan (in shares)			4,212
Issuance of common stock to employees under employee stock purchase plan	464,000				464,000
Net income	$ 41,344,000						41,344,000
Balance, common stock, shares at Jul. 30, 2022	55,507,931		55,507,931
Balance at Jul. 30, 2022	$ 1,162,581,000		$ 555,000		$ 248,902,000		$ 913,124,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Operating activities:
Net income	$ 74,062	$ 114,437
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	49,120	39,480
Share-based compensation expense	12,139	12,353
Deferred income tax expense	5,258	6,867
Other non-cash expenses	281	354
Changes in operating assets and liabilities:
Inventories	(114,097)	(66,035)
Prepaid income taxes and tax receivable	(3,046)	(3,060)
Prepaid expenses and other assets	(15,967)	(9,050)
Accounts payable	64,908	29,616
Income taxes payable	(28,096)	(1,094)
Accrued salaries and wages	(33,556)	(1,791)
Operating leases	17,167	10,743
Other accrued expenses	17,984	15,987
Net cash provided by operating activities	46,157	148,807
Investing activities:
Purchases of investment securities and other investments	(21,848)	(251,447)
Sales, maturities, and redemptions of investment securities	219,391	100,842
Capital expenditures	(109,710)	(134,614)
Net cash provided by (used in) investing activities	87,833	(285,219)
Financing activities:
Net proceeds from issuance of common stock	464	443
Repurchase and retirement of common stock	(40,007)	0
Proceeds from exercise of options to purchase common stock and vesting of restricted and performance-based restricted stock units	102	359
Common shares withheld for taxes	(4,421)	(6,978)
Net cash used in financing activities	(43,862)	(6,176)
Net increase (decrease) in cash and cash equivalents	90,128	(142,588)
Cash and cash equivalents at beginning of period	64,973	268,783
Cash and cash equivalents at end of period	155,101	126,195
Supplemental disclosures of cash flow information:
Increase in accrued purchases of property and equipment	$ (3,841)	$ 16,698

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting PoliciesDescription of Business Five Below, Inc. (collectively referred to herein with its wholly owned subsidiary as the "Company") is a specialty value retailer offering merchandise targeted at the tween and teen demographic. The Company offers an edited assortment of products, with most priced at $5 and below. The Company’s edited assortment of products includes select brands and licensed merchandise. The Company believes its merchandise is readily available, and that there are a number of potential vendors that could be utilized, if necessary, under approximately the same terms the Company is currently receiving; thus, it is not dependent on a single vendor or a group of vendors. The Company is incorporated in the Commonwealth of Pennsylvania and, as of July 30, 2022, operated in 40 states that include Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Massachusetts, New Hampshire, West Virginia, North Carolina, New York, Connecticut, Rhode Island, Ohio, Illinois, Indiana, Michigan, Missouri, Georgia, Texas, Tennessee, Maine, Alabama, Kentucky, Kansas, Florida, South Carolina, Mississippi, Louisiana, Wisconsin, Oklahoma, Minnesota, California, Arkansas, Iowa, Nebraska, Arizona, Nevada, Colorado, Utah and New Mexico. As of July 30, 2022 and July 31, 2021, the Company operated 1,252 stores and 1,121 stores, respectively, each operating under the name “Five Below,” and sold merchandise on the internet, through the Company's fivebelow.com e-commerce website as well as with an on demand third party delivery service to enable our customers to shop online and receive convenient same day delivery. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation at the measurement date: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Inputs, other than Level 1, that are either directly or indirectly observable. Level 3: Unobservable inputs developed using the Company’s estimates and assumptions which reflect those that market participants would use. The classification of fair value measurements within the hierarchy are based upon the lowest level of input that is significant to the measurement. The Company’s financial instruments consist primarily of cash equivalents, investment securities, accounts payable, borrowings, if any, under a line of credit, equity method investments and notes receivable. The Company believes that: (1) the carrying value of cash equivalents and accounts payable are representative of their respective fair value due to the short-term nature of these instruments; and (2) the carrying value of the borrowings, if any, under the line of credit approximates fair value because the line of credit’s interest rates vary with market interest rates. Under the fair value hierarchy, the fair market values of cash equivalents and the investments in corporate bonds are Level 1 while the investments in municipal bonds are Level 2. The fair market values of Level 2 instruments are determined by management with the assistance of a third-party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the third-party pricing service using observable market information such as quotes from less active markets and quoted prices of similar securities. As of July 30, 2022, January 29, 2022 and July 31, 2021, the Company had cash equivalents of $115.0 million , $41.3 million and $73.9 million, respectively. The Company’s cash equivalents consist of cash management solutions, credit and debit card receivables, money market funds, corporate bonds and municipal bonds with original maturities of 90 days or less. Fair value for cash equivalents was determined based on Level 1 inputs. As of July 30, 2022, January 29, 2022 and July 31, 2021, the Company's investment securities are classified as held-to-maturity since the Company has the intent and ability to hold the investments to maturity. Such securities are carried at amortized cost plus accrued interest and consist of the following (in thousands): As of July 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 110,692 $ — $ 1,104 $ 109,588 Municipal bonds 6,623 — 3 6,620 Total $ 117,315 $ — $ 1,107 $ 116,208 As of January 29, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 236,069 $ — $ 286 $ 235,783 Municipal bonds 41,072 — 44 41,028 Total $ 277,141 $ — $ 330 $ 276,811 Long-term: Corporate bonds $ 37,717 $ — $ 199 $ 37,518 Total $ 37,717 $ — $ 199 $ 37,518 As of July 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 234,909 $ — $ 49 $ 234,860 Municipal bonds 52,020 — 6 52,014 Total $ 286,929 $ — $ 55 $ 286,874 Long-term: Municipal bonds 1,104 1 — 1,105 Total $ 1,104 $ 1 $ — $ 1,105 Prepaid expenses as of July 30, 2022, January 29, 2022 and July 31, 2021 were $33.0 million, $26.4 million, and $23.4 million, respectively. Other current assets as of July 30, 2022, January 29, 2022 and July 31, 2021 were $74.8 million, Other accrued expenses include accrued capital expenditure s of $40.8 million, $41.7 million, and $46.4 million as of July 30, 2022, January 29, 2022 and July 31, 2021, respectively.

Revenue from Contracts With Cus

Revenue from Contracts With Customers	6 Months Ended
	Jul. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenue from Contracts with Customers Revenue Transactions Revenue from store operations is recognized at the point of sale when control of the product is transferred to the customer at such time. Internet sales, through the Company's fivebelow.com e-commerce website, are recognized when the customer receives the product as control transfers upon delivery. Returns subsequent to the period end are immaterial; accordingly, no significant reserve has been recorded. Gift card sales to customers are initially recorded as liabilities and recognized as sales upon redemption for merchandise or as breakage revenue in proportion to the pattern of redemption of the gift cards by the customer in net sales. The transaction price for the Company’s sales is based on the item’s stated price. To the extent that the Company charges customers for shipping and handling on e-commerce sales, the Company records such amounts in net sales. Shipping and handling costs, which include fulfillment and shipping costs related to the Company's e-commerce operations, are included in costs of goods sold. As permitted by applicable accounting guidance, ASU 2014-09 "Revenue from Contracts with Customers," the Company has elected to exclude all sales taxes collected from customers and remitted to governmental authorities from net sales in the accompanying consolidated statements of operations. Disaggregation of Revenue The following table provides information about disaggregated revenue by groups of products: leisure, fashion and home, and party and snack (in thousands): Thirteen Weeks Ended Thirteen Weeks Ended July 30, 2022 July 31, 2021 Amount Percentage of Net Sales Amount Percentage of Net Sales Leisure $ 304,837 45.6 % $ 328,517 50.8 % Fashion and home 198,313 29.6 % 191,241 29.6 % Party and snack 165,777 24.8 % 126,796 19.6 % Total $ 668,927 100.0 % $ 646,554 100.0 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 Amount Percentage of Net Sales Amount Percentage of Net Sales Leisure $ 611,543 46.7 % $ 625,290 50.2 % Fashion and home 372,547 28.5 % 370,933 29.8 % Party and snack 324,433 24.8 % 248,154 20.0 % Total $ 1,308,523 100.0 % $ 1,244,377 100.0 %

Leases

Leases	6 Months Ended
	Jul. 30, 2022
Leases [Abstract]
Leases	Leases The Company determines if an arrangement contains a lease at the inception of a contract. Operating lease assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. During the thirteen weeks ended July 30, 2022, the Company committed to 45 new store leases with average terms of approximately 10 years that have future minimum lease payments of approximately $79.8 million. All of the Company's leases are classified as operating leases and the associated assets and liabilities are presented as separate captions in the consolidated balance sheets. As of July 30, 2022 and July 31, 2021, the weighted average remaining lease term for the Company's operating leases was 7.7 years and 7.9 years, respectively, and the weighted average discount rate was 5.2% and 6.2%, respectively. The following table is a summary of the Company's components for net lease costs (in thousands): Thirteen Weeks Ended Twenty-Six Weeks Ended Lease Cost July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Operating lease cost $ 56,515 $ 49,265 $ 111,679 $ 96,794 Variable lease cost 14,497 14,020 30,122 27,650 Net lease cost* $ 71,012 $ 63,285 $ 141,801 $ 124,444 * Excludes short-term lease cost, which is immaterial. The following table summarizes the maturity of lease liabilities under operating leases as of July 30, 2022 (in thousands): Maturity of Lease Liabilities Operating Leases 2022 $ 121,906 2023 247,168 2024 237,869 2025 223,248 2026 207,731 After 2026 672,214 Total lease payments 1,710,136 Less: imputed interest 278,055 Present value of lease liabilities $ 1,432,081 The following table summarizes the supplemental cash flow disclosures related to leases (in thousands): Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Cash payments arising from operating lease liabilities (1) $ 102,023 $ 96,384 Supplemental non-cash information: Operating lease liabilities arising from obtaining right-of-use assets $ 188,968 $ 171,581 (1) Included within operating activities in the Company's Consolidated Statements of Cash Flows.

Income Per Common Share

Income Per Common Share	6 Months Ended
	Jul. 30, 2022
Earnings Per Share [Abstract]
Income Per Common Share	Income Per Common ShareBasic income per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted income per common share amounts are calculated using the weighted average number of common shares outstanding for the period and include the dilutive impact of exercised stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted average shares until the performance conditions are met. The dilutive impact, if any, for performance-based restricted stock units, which are subject to market conditions based on the Company's total shareholder return relative to a pre-defined peer group, are included in the weighted average shares. The following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data): Thirteen Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Numerator: Net income $ 41,344 $ 64,841 $ 74,062 $ 114,437 Denominator: Weighted average common shares outstanding - basic 55,498,471 56,007,970 55,572,425 55,989,399 Dilutive impact of options, restricted stock units and employee stock purchase plan 147,568 291,521 167,327 297,696 Weighted average common shares outstanding - diluted 55,646,039 56,299,491 55,739,752 56,287,095 Per common share: Basic income per common share $ 0.74 $ 1.16 $ 1.33 $ 2.04 Diluted income per common share $ 0.74 $ 1.15 $ 1.33 $ 2.03 The effects of the assumed vesting of restricted stock units for 188,656 shares of common stock for the thirteen weeks ended July 30, 2022 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 22,845 shares of common stock for the thirteen weeks ended July 31, 2021 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 103,553 shares of common stock for the twenty-six weeks ended July 30, 2022 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 11,835 shares of common stock for the twenty-six weeks ended July 31, 2021 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive.

Line of Credit

Line of Credit	6 Months Ended
	Jul. 30, 2022
Debt Disclosure [Abstract]
Line of Credit	Line of Credit On January 27, 2021, the Company entered into a First Amendment to Credit Agreement (the "First Amendment") which amended the Fifth Amended and Restated Credit Agreement (as amended by the Fifth Amendment, the "Credit Agreement") dated April 24, 2020 among the Company, 1616 Holdings, Inc., a wholly-owned subsidiary of the Company ("1616 Holdings" and together with the Company, the "Loan Parties"), Wells Fargo Bank, National Association as administrative agent (the "Agent"), and other lenders party thereto (the "Lenders"). The Credit Agreement provides for a secured asset-based revolving line of credit in the amount of up to $225.0 million (the "Revolving Credit Facility"). Advances under the Revolving Credit Facility are tied to a borrowing base consisting of eligible credit card receivables and inventory, as reduced by certain reserves in effect from time to time. Pursuant to the Credit Agreement, inventory appraisals and certain other diligence items are deferred, with reduced advance rates during the period that such appraisals have not been delivered. The Revolving Credit Facility expires on the earliest to occur of (i) April 24, 2023 or (ii) an event of default. The Revolving Credit Facility may be increased up to $150.0 million, subject to certain conditions, including obtaining commitments from one or more Lenders (the "Accordion"). Pursuant to the First Amendment, the Company obtained commitments from the Lenders that would allow the Company at its election (subject only to satisfaction of certain customary conditions such as the absence of any Event of Default), to increase the amount of the Revolving Credit Facility by an aggregate principal amount up to $50.0 million within the Accordion (the "Committed Increase"). The entire amount of the Revolving Credit Facility is available for the issuance of letters of credit and allows for swingline loans. The Credit Agreement provides that the interest rate payable on borrowings shall be, at the Company’s option, a per annum rate equal to (a) a base rate plus an applicable margin ranging from 0.25% to 0.75% or (b) a LIBOR rate plus a margin ranging from 1.25% to 1.75%. Letter of credit fees range from 1.25% to 1.75%. The interest rate and letter of credit fees under the Credit Agreement are subject to an increase of 2.00% per annum upon an event of default. The Credit Agreement contains customary covenants that limit, absent lender approval, the ability of the Company and certain of its affiliates to, among other things, pay cash dividends, incur debt, create liens and encumbrances, redeem or repurchase stock, enter into certain acquisition transactions with affiliates, merge, dissolve, repay certain indebtedness, change the nature of the Company’s business, enter sale or leaseback transactions, make investments or dispose of assets. In some cases, these restrictions are subject to certain negotiated exceptions or permit the Company to undertake otherwise restricted activities if it satisfies certain conditions. In addition, the Company will be required to maintain availability of not less than (i) 12.5% of the lesser of (x) aggregate commitments under the Revolving Credit Facility and (y) the borrowing base (the "loan cap") during the period that inventory appraisals have not been delivered as described above and (ii) at all other times 10.0% of the loan cap. If there exists an event of default or availability under the Revolving Credit Facility is less than 15% of the loan cap, amounts in any of the Loan Parties’ or subsidiary guarantors' designated deposit accounts will be transferred daily into a blocked account held by the Agent and applied to reduce outstanding amounts under the Revolving Credit Facility (the "Cash Dominion Event"), so long as (i) such event of default has not been waived and/or (ii) until availability has exceeded 15% of the loan cap for sixty (60) consecutive calendar days (provided that such ability to discontinue the Cash Dominion Event shall be limited to two times during the term of the Credit Agreement). The Credit Agreement contains customary events of default including, among other things, failure to pay obligations when due, initiation of bankruptcy or insolvency proceedings, defaults on certain other indebtedness, change of control, incurrence of certain material judgments that are not stayed, satisfied, bonded or discharged within 30 days, certain ERISA events, invalidity of the credit documents, and violation of affirmative and negative covenants or breach of representations and warranties set forth in the Credit Agreement. Amounts under the Revolving Credit Facility may become due upon events of default (subject to any applicable grace or cure periods). All obligations under the Revolving Credit Facility are guaranteed by 1616 Holdings and secured by substantially all of the assets of the Company and 1616 Holdings. As of July 30, 2022, the Company had no borrowings under the Revolving Credit Facility and had approximately $202 million available under the Revolving Credit Facility.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Other Contractual Commitments As of July 30, 2022, the Company has other purchase commitments of approximately $22.1 million consisting of purchase agreements for materials that will be used in the construction of new stores. In March 2021, the Company acquired land in Indianapolis, Indiana, to build an approximately 1,030,000 square foot distribution center to support the Company's anticip ated growth. The total amount paid for the land and building was approximately $60 million. The Company began operating the distribution center in June 2022. Contingencies Legal Matters

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jul. 30, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Equity Incentive Plan Pursuant to the Company's 2022 Equity Incentive Plan (the “Plan”), which was approved in June 2022, the Company’s Board of Directors may grant stock options, restricted shares, and restricted stock units to officers, directors, key employees and professional service providers. The Plan allows for the issuance of up to a total of 4.3 million shares under the Plan. As of July 30, 2022, approximatel y 3.5 million stock options, restricted shares, or restricted stock units were available for grant. Common Stock Options All stock options have a term not greater than ten years. Stock options vest and become exercisable in whole or in part, in accordance with vesting conditions set by the Company’s Board of Directors. Options granted to date generally vest over four years from the date of grant. Stock option activity during the twenty-six weeks ended July 30, 2022 was as follows: Options Weighted Weighted Balance as of January 29, 2022 39,763 $ 34.48 2.3 Exercised (2,952) 22.62 Balance as of July 30, 2022 36,811 35.43 1.9 Exercisable as of July 30, 2022 36,811 $ 35.43 1.9 Restricted Stock Units and Performance-Based Restricted Stock Units All restricted stock units ("RSU") and performance-based restricted stock units ("PSU") vest in accordance with vesting conditions set by the compensation committee of the Company’s Board of Directors. RSUs and PSUs granted to date generally have vesting periods ranging from less than one year to four years from the date of grant. The fair value of RSUs is the market price of the underlying common stock on the date of grant. PSUs that have a performance condition are subject to satisfaction of the applicable performance goals established for the respective grant. The Company periodically assesses the probability of achievement of the performance criteria and adjusts the amount of compensation expense accordingly. The fair value of these PSUs is the market price of the underlying common stock on the date of grant. Compensation is recognized over the vesting period and adjusted for the probability of achievement of the performance criteria. PSUs that have a market condition based on our total shareholder return relative to a pre-defined peer group are subject to multi-year performance objectives with vesting periods of approximately three years from the date of grant (if the applicable performance objectives are achieved). The fair value of these PSUs are determined using a Monte Carlo valuation model. RSU and PSU activity during the twenty-six weeks ended July 30, 2022 was as follows: Restricted Stock Units Performance-Based Restricted Stock Units Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Non-vested balance as of January 29, 2022 254,295 $ 126.93 349,236 $ 163.16 Granted 108,241 141.28 127,598 165.90 Vested (112,749) 108.00 — — Forfeited (15,294) 139.47 (7,654) 161.29 Non-vested balance as of July 30, 2022 234,493 $ 133.92 469,180 $ 126.50 In connection with the vesting of RSUs and PSUs during the twenty-six weeks ended July 30, 2022, the Company withheld 28,832 shares with an aggregate value of $4.4 million in sat isfaction of minimum tax withholding obligations due upon vesting. In connection with the vesting of RSUs and PSUs during the twenty-six weeks ended July 31, 2021, the Company withheld 36,561 shares with an aggregate value of $7.0 million in satisfaction of minimum tax withholding obligations due upon vesting. As of July 30, 2022, there wa s $44.9 million of total unrecognized compensation costs related to non-vested share-based compensation arrangements (including stock options, RSUs and PSUs) granted under the Plan. The cost is expected to be recognized over a weighted average vesting period of 2.4 years. Share Repurchase Programs On March 20, 2018, the Company's Board of Directors approved a share repurchase program authorizing the repurchase of up to $100 million of the Company's common stock through March 31, 2021, on the open market, in privately negotiated transactions, or otherwise. This program expired on March 31, 2021. On March 9, 2021, the Company's Board of Directors approved a new share repurchase program for up to $100 million of the Company's common stock through March 31, 2024. In fiscal 2021, the Company purchased 368,699 shares at an aggregate cost of approximately $60.0 million, or average price of $162.75 per share. During the twenty-six weeks ended July 30, 2022, the Company purchased 247,132 shares at an aggregate cost of approximately $40.0 million, or average price of $161.88 per share. The Company has exhausted repurchases under this program. On June 14, 2022, the Company's Board of Directors approved a new share repurchase program for up to $100 million of the Company's common stock through June 30, 2025. As of July 30, 2022, the Company has not made any repurchases under this program.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table summarizes the Company’s income tax expense and effective tax rates for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021 (dollars in thousands): Thirteen Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Income before income taxes $ 56,106 $ 85,097 $ 98,198 $ 147,807 Income tax expense $ 14,762 $ 20,256 $ 24,136 $ 33,370 Effective tax rate 26.3 % 23.8 % 24.6 % 22.6 % The effective tax rates for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021 were based on the Company’s forecasted annualized effective tax rates and were adjusted for discrete items that occurred within the periods presented. The effective tax rate for the thirteen weeks ended July 30, 2022 was higher than the thirteen weeks ended July 31, 2021 primarily due to discrete items, which includes the impact of ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting" with respect to the requirement to recognize excess income tax benefits or deficiencies as income tax benefit or expense in the Company's consolidated statements of operations. The effective tax rate for the twenty-six weeks ended July 30, 2022 was higher than the twenty-six weeks ended July 31, 2021 primarily due to discrete items, which includes the impact of ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting." The Company had no material accrual for uncertain tax positions or interest and/or penalties related to income taxes on the Company’s balance sheets as of July 30, 2022, January 29, 2022 or July 31, 2021 and has not recognized any material uncertain tax positions or interest and/or penalties related to income taxes in the consolidated statements of operations for the thirteen and twenty-six weeks ended July 30, 2022 or July 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 30, 2022
Accounting Policies [Abstract]
Nature of Business	Description of Business Five Below, Inc. (collectively referred to herein with its wholly owned subsidiary as the "Company") is a specialty value retailer offering merchandise targeted at the tween and teen demographic. The Company offers an edited assortment of products, with most priced at $5 and below. The Company’s edited assortment of products includes select brands and licensed merchandise. The Company believes its merchandise is readily available, and that there are a number of potential vendors that could be utilized, if necessary, under approximately the same terms the Company is currently receiving; thus, it is not dependent on a single vendor or a group of vendors. The Company is incorporated in the Commonwealth of Pennsylvania and, as of July 30, 2022, operated in 40 states that include Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Massachusetts, New Hampshire, West Virginia, North Carolina, New York, Connecticut, Rhode Island, Ohio, Illinois, Indiana, Michigan, Missouri, Georgia, Texas, Tennessee, Maine, Alabama, Kentucky, Kansas, Florida, South Carolina, Mississippi, Louisiana, Wisconsin, Oklahoma, Minnesota, California, Arkansas, Iowa, Nebraska, Arizona, Nevada, Colorado, Utah and New Mexico. As of July 30, 2022 and July 31, 2021, the Company operated 1,252 stores and 1,121 stores, respectively, each operating under the name “Five Below,” and sold merchandise on the internet, through the Company's fivebelow.com e-commerce website as well as with an on demand third party delivery service to enable our customers to shop online and receive convenient same day delivery.
Fiscal Year	Fiscal YearThe Company operates on a 52/53-week fiscal year ending on the Saturday closest to January 31. References to "fiscal year 2022" or "fiscal 2022" refer to the period from January 30, 2022 to January 28, 2023, which is a 52-week fiscal year. References to "fiscal year 2021" or "fiscal 2021" refer to the period from January 31, 2021 to January 29, 2022, which is a 52-week fiscal year. The fiscal quarters ended July 30, 2022 and July 31, 2021 refer to the thirteen weeks ended as of those dates. The year-to-date periods ended July 30, 2022 and July 31, 2021 refer to the twenty-six weeks ended as of those dates.
Basis of Presentation	Basis of PresentationThe consolidated balance sheets as of July 30, 2022 and July 31, 2021, the consolidated statements of operations for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021, the consolidated statements of shareholders’ equity for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021 and the consolidated statements of cash flows for the twenty-six weeks ended July 30, 2022 and July 31, 2021 have been prepared by the Company in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim reporting and are unaudited. In the opinion of management, the aforementioned financial statements include all known adjustments (which consist primarily of normal, recurring accruals, estimates and assumptions that impact the financial statements) necessary to present fairly the financial position at the balance sheet dates and the results of operations and cash flows for the periods ended July 30, 2022 and July 31, 2021. The balance sheet as of January 29, 2022, presented herein, has been derived from the audited balance sheet included in the Company's Annual Report on Form 10-K for fiscal 2021 as filed with the Securities and Exchange Commission on March 30, 2022 and referred to herein as the “Annual Report,” but does not include all annual disclosures required by U.S. GAAP. These consolidated financial statements should be read in conjunction with the consolidated financial statements for the fiscal year ended January 29, 2022 and footnotes thereto included in the Annual Report. The consolidated results of operations for the thirteen and twenty-six weeks July 30, 2022 and July 31, 2021 are not necessarily indicative of the consolidated operating results for the year ending January 28, 2023 or any other period. The Company's business is seasonal and as a result, the Company's net sales fluctuate from quarter to quarter. Net sales are usually highest in the fourth fiscal quarter due to the year-end holiday season.
Recently Issued Accounting Pronouncements	Recently Issued Accounting PronouncementsIn March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" ("ASU 2020-04"). The pronouncement provides temporary optional expedients and exceptions to the current guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance was effective upon issuance and may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022.
Use of Estimates	Use of EstimatesThe preparation of the consolidated financial statements requires management of the Company to make estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, net realizable value for inventories, income taxes, share-based compensation expense, the incremental borrowing rate utilized in operating lease liabilities, equity method investments and notes receivable.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation at the measurement date: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Inputs, other than Level 1, that are either directly or indirectly observable. Level 3: Unobservable inputs developed using the Company’s estimates and assumptions which reflect those that market participants would use. The classification of fair value measurements within the hierarchy are based upon the lowest level of input that is significant to the measurement. The Company’s financial instruments consist primarily of cash equivalents, investment securities, accounts payable, borrowings, if any, under a line of credit, equity method investments and notes receivable. The Company believes that: (1) the carrying value of cash equivalents and accounts payable are representative of their respective fair value due to the short-term nature of these instruments; and (2) the carrying value of the borrowings, if any, under the line of credit approximates fair value because the line of credit’s interest rates vary with market interest rates. Under the fair value hierarchy, the fair market values of cash equivalents and the investments in corporate bonds are Level 1 while the investments in municipal bonds are Level 2. The fair market values of Level 2 instruments are determined by management with the assistance of a third-party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the third-party pricing service using observable market information such as quotes from less active markets and quoted prices of similar securities. As of July 30, 2022, January 29, 2022 and July 31, 2021, the Company had cash equivalents of $115.0 million , $41.3 million and $73.9 million, respectively. The Company’s cash equivalents consist of cash management solutions, credit and debit card receivables, money market funds, corporate bonds and municipal bonds with original maturities of 90 days or less. Fair value for cash equivalents was determined based on Level 1 inputs.
Deferred Compensation	Deferred CompensationThe Five Below, Inc. Nonqualified Deferred Compensation Plan (the "Deferred Comp Plan") and a related, irrevocable grantor trust (the "Trust") provides eligible key employees with the opportunity to elect to defer up to 80% of their eligible compensation. The Company may make discretionary contributions, at the discretion of the Board. Payments under the Deferred Comp Plan will be made from the general assets of the Company or from the assets of the Trust, funded by the Company. The related liability is recorded as deferred compensation and included in other long-term liabilities in the consolidated balance sheets.
Equity Method Investments	Equity Method InvestmentsThe Company uses the equity method to account for its investments in which the Company is deemed to have the ability to exercise significant influence over an investee’s operating and financial policies or in which the Company holds a significant partnership or limited liability company interest. Equity method investments are initially recorded at cost in other assets in the consolidated balance sheets. The cost is adjusted to recognize the Company's proportionate share of the investee’s net income or loss after the date of investment and is also adjusted for any impairments resulting from other-than-temporary declines in fair value that is less than its carrying value.
Revenue Transactions	Revenue Transactions Revenue from store operations is recognized at the point of sale when control of the product is transferred to the customer at such time. Internet sales, through the Company's fivebelow.com e-commerce website, are recognized when the customer receives the product as control transfers upon delivery. Returns subsequent to the period end are immaterial; accordingly, no significant reserve has been recorded. Gift card sales to customers are initially recorded as liabilities and recognized as sales upon redemption for merchandise or as breakage revenue in proportion to the pattern of redemption of the gift cards by the customer in net sales. The transaction price for the Company’s sales is based on the item’s stated price. To the extent that the Company charges customers for shipping and handling on e-commerce sales, the Company records such amounts in net sales. Shipping and handling costs, which include fulfillment and shipping costs related to the Company's e-commerce operations, are included in costs of goods sold. As permitted by applicable accounting guidance, ASU 2014-09 "Revenue from Contracts with Customers," the Company has elected to exclude all sales taxes collected from customers and remitted to governmental authorities from net sales in the accompanying consolidated statements of operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jul. 30, 2022
Accounting Policies [Abstract]
Debt Securities, Held-to-maturity	Such securities are carried at amortized cost plus accrued interest and consist of the following (in thousands): As of July 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 110,692 $ — $ 1,104 $ 109,588 Municipal bonds 6,623 — 3 6,620 Total $ 117,315 $ — $ 1,107 $ 116,208 As of January 29, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 236,069 $ — $ 286 $ 235,783 Municipal bonds 41,072 — 44 41,028 Total $ 277,141 $ — $ 330 $ 276,811 Long-term: Corporate bonds $ 37,717 $ — $ 199 $ 37,518 Total $ 37,717 $ — $ 199 $ 37,518 As of July 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Short-term: Corporate bonds $ 234,909 $ — $ 49 $ 234,860 Municipal bonds 52,020 — 6 52,014 Total $ 286,929 $ — $ 55 $ 286,874 Long-term: Municipal bonds 1,104 1 — 1,105 Total $ 1,104 $ 1 $ — $ 1,105

Revenue from Contracts With C_2

Revenue from Contracts With Customers (Tables)	6 Months Ended
	Jul. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregation of Revenue The following table provides information about disaggregated revenue by groups of products: leisure, fashion and home, and party and snack (in thousands): Thirteen Weeks Ended Thirteen Weeks Ended July 30, 2022 July 31, 2021 Amount Percentage of Net Sales Amount Percentage of Net Sales Leisure $ 304,837 45.6 % $ 328,517 50.8 % Fashion and home 198,313 29.6 % 191,241 29.6 % Party and snack 165,777 24.8 % 126,796 19.6 % Total $ 668,927 100.0 % $ 646,554 100.0 % Twenty-Six Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 Amount Percentage of Net Sales Amount Percentage of Net Sales Leisure $ 611,543 46.7 % $ 625,290 50.2 % Fashion and home 372,547 28.5 % 370,933 29.8 % Party and snack 324,433 24.8 % 248,154 20.0 % Total $ 1,308,523 100.0 % $ 1,244,377 100.0 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 30, 2022
Leases [Abstract]
Components of net lease cost	The following table is a summary of the Company's components for net lease costs (in thousands): Thirteen Weeks Ended Twenty-Six Weeks Ended Lease Cost July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Operating lease cost $ 56,515 $ 49,265 $ 111,679 $ 96,794 Variable lease cost 14,497 14,020 30,122 27,650 Net lease cost* $ 71,012 $ 63,285 $ 141,801 $ 124,444 The following table summarizes the supplemental cash flow disclosures related to leases (in thousands): Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 Cash paid for amounts included in the measurement of lease liabilities: Cash payments arising from operating lease liabilities (1) $ 102,023 $ 96,384 Supplemental non-cash information: Operating lease liabilities arising from obtaining right-of-use assets $ 188,968 $ 171,581 (1) Included within operating activities in the Company's Consolidated Statements of Cash Flows.
Maturity of lease liabilities under operating leases	The following table summarizes the maturity of lease liabilities under operating leases as of July 30, 2022 (in thousands): Maturity of Lease Liabilities Operating Leases 2022 $ 121,906 2023 247,168 2024 237,869 2025 223,248 2026 207,731 After 2026 672,214 Total lease payments 1,710,136 Less: imputed interest 278,055 Present value of lease liabilities $ 1,432,081

Income Per Common Share (Tables

Income Per Common Share (Tables)	6 Months Ended
	Jul. 30, 2022
Earnings Per Share [Abstract]
Computations Of Basic And Diluted Income (Loss) Per Share	The following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data): Thirteen Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Numerator: Net income $ 41,344 $ 64,841 $ 74,062 $ 114,437 Denominator: Weighted average common shares outstanding - basic 55,498,471 56,007,970 55,572,425 55,989,399 Dilutive impact of options, restricted stock units and employee stock purchase plan 147,568 291,521 167,327 297,696 Weighted average common shares outstanding - diluted 55,646,039 56,299,491 55,739,752 56,287,095 Per common share: Basic income per common share $ 0.74 $ 1.16 $ 1.33 $ 2.04 Diluted income per common share $ 0.74 $ 1.15 $ 1.33 $ 2.03 The effects of the assumed vesting of restricted stock units for 188,656 shares of common stock for the thirteen weeks ended July 30, 2022 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 22,845 shares of common stock for the thirteen weeks ended July 31, 2021 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 103,553 shares of common stock for the twenty-six weeks ended July 30, 2022 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive. The effects of the assumed vesting of restricted stock units for 11,835 shares of common stock for the twenty-six weeks ended July 31, 2021 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jul. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	Stock option activity during the twenty-six weeks ended July 30, 2022 was as follows: Options Weighted Weighted Balance as of January 29, 2022 39,763 $ 34.48 2.3 Exercised (2,952) 22.62 Balance as of July 30, 2022 36,811 35.43 1.9 Exercisable as of July 30, 2022 36,811 $ 35.43 1.9
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	RSU and PSU activity during the twenty-six weeks ended July 30, 2022 was as follows: Restricted Stock Units Performance-Based Restricted Stock Units Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Non-vested balance as of January 29, 2022 254,295 $ 126.93 349,236 $ 163.16 Granted 108,241 141.28 127,598 165.90 Vested (112,749) 108.00 — — Forfeited (15,294) 139.47 (7,654) 161.29 Non-vested balance as of July 30, 2022 234,493 $ 133.92 469,180 $ 126.50

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jul. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following table summarizes the Company’s income tax expense and effective tax rates for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021 (dollars in thousands): Thirteen Weeks Ended Twenty-Six Weeks Ended July 30, 2022 July 31, 2021 July 30, 2022 July 31, 2021 Income before income taxes $ 56,106 $ 85,097 $ 98,198 $ 147,807 Income tax expense $ 14,762 $ 20,256 $ 24,136 $ 33,370 Effective tax rate 26.3 % 23.8 % 24.6 % 22.6 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Nature of Business) (Details)	3 Months Ended
	Jul. 30, 2022 USD ($) Stores state	Jul. 31, 2021 Stores
Accounting Policies [Abstract]
Products offering price, maximum price | $	$ 5
Number of states in which entity operates (state) | state	40
Number of company operated stores | Stores	1,252	1,121
Deferred Compensation Arrangement With individual, Percent Of Gross Pay	80%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Fair Value of Financial Instruments) (Details) - USD ($) $ in Thousands	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Significant Accounting Policies [Line Items]
Amortized Cost	$ 117,315	$ 277,141	$ 286,929
Gross Unrealized Gains	0	0	0
Gross Unrealized Losses	1,107	330	55
Fair Market Value	116,208	276,811	286,874
Other Long-term Investments
Significant Accounting Policies [Line Items]
Amortized Cost		37,717	1,104
Gross Unrealized Gains		0	1
Gross Unrealized Losses		199	0
Fair Market Value		37,518	1,105
Fair Value, Inputs, Level 1
Significant Accounting Policies [Line Items]
Cash equivalents	115,000	41,300	73,900
Corporate bonds | Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Amortized Cost	110,692	236,069	234,909
Gross Unrealized Gains	0	0	0
Gross Unrealized Losses	1,104	286	49
Fair Market Value	109,588	235,783	234,860
Municipal bonds | Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Amortized Cost	6,623	41,072	52,020
Gross Unrealized Gains	0	0	0
Gross Unrealized Losses	3	44	6
Fair Market Value	$ 6,620	41,028	52,014
Corporate bonds | Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Amortized Cost		37,717
Gross Unrealized Gains		0
Gross Unrealized Losses		199
Fair Market Value		$ 37,518
Municipal bonds | Fair Value, Inputs, Level 2
Significant Accounting Policies [Line Items]
Amortized Cost			1,104
Gross Unrealized Gains			1
Gross Unrealized Losses			0
Fair Market Value			$ 1,105

Summary of Significant Accoun_6

Summary of Significant Accounting Policies Prepaid expenses and OCA (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Accounting Policies [Abstract]
Prepaid expense	$ 33	$ 26.4	$ 23.4
Other current assets	$ 74.8	$ 69.8	$ 46.1

Summary of Significant Accoun_7

Summary of Significant Accounting Policies Other Accrued Expenses (Details) - USD ($) $ in Millions	Jul. 30, 2022	Jan. 29, 2022	Jul. 31, 2021
Accounting Policies [Abstract]
Other accrued expenses	$ 40.8	$ 41.7	$ 46.4

Revenue from Contracts With C_3

Revenue from Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Net sales	$ 668,927	$ 646,554	$ 1,308,523	$ 1,244,377
Net sales as a percentage of net sales	100%	100%	100%	100%
Leisure
Net sales	$ 304,837	$ 328,517	$ 611,543	$ 625,290
Net sales as a percentage of net sales	45.60%	50.80%	46.70%	50.20%
Fashion and home
Net sales	$ 198,313	$ 191,241	$ 372,547	$ 370,933
Net sales as a percentage of net sales	29.60%	29.60%	28.50%	29.80%
Total
Net sales	$ 165,777	$ 126,796	$ 324,433	$ 248,154
Net sales as a percentage of net sales	24.80%	19.60%	24.80%	20%

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 30, 2022 USD ($)	Jul. 30, 2022 lease	Jul. 31, 2021
Lessee, Lease, Description [Line Items]
Number of leases (lease) | lease		45
Long-term purchase commitment, amount | $	$ 79.8
Operating lease, weighted average remaining lease term (years)	7 years 8 months 12 days	7 years 8 months 12 days	7 years 10 months 24 days
Operating lease, weighted average discount rate, percent	5.20%	5.20%	6.20%
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contracts (years)	10 years	10 years

Leases - Components of Net Leas

Leases - Components of Net Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Leases [Abstract]
Operating lease cost	$ 56,515	$ 49,265	$ 111,679	$ 96,794
Variable lease cost	14,497	14,020	30,122	27,650
Net lease cost*	$ 71,012	$ 63,285	$ 141,801	$ 124,444

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities Under Operating Leases (Details) $ in Thousands	Jul. 30, 2022 USD ($)
Leases [Abstract]
2022	$ 121,906
2023	247,168
2024	237,869
2025	223,248
2026	207,731
After 2026	672,214
Total lease payments	1,710,136
Less: imputed interest	278,055
Present value of lease liabilities	$ 1,432,081

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Cash payments arising from operating lease liabilities	$ 102,023	$ 96,384
Supplemental non-cash information:
Operating lease liabilities arising from obtaining right-of-use assets	$ 188,968	$ 171,581

Income Per Common Share (Comput

Income Per Common Share (Computations Of Basic And Diluted Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 30, 2022	Apr. 30, 2022	Jul. 31, 2021	May 01, 2021	Jul. 30, 2022	Jul. 31, 2021
Numerator:
Net income	$ 41,344	$ 32,718	$ 64,841	$ 49,596	$ 74,062	$ 114,437
Denominator:
Weighted-average common shares outstanding - basic (shares)	55,498,471		56,007,970		55,572,425	55,989,399
Dilutive impact of options and warrants (shares)	147,568		291,521		167,327	297,696
Weighted average common share outstanding - diluted (shares)	55,646,039		56,299,491		55,739,752	56,287,095
Per common share:
Basic income (loss) per common share (dollars per share)	$ 0.74		$ 1.16		$ 1.33	$ 2.04
Diluted income per common share (dollars per share)	$ 0.74		$ 1.15		$ 1.33	$ 2.03

Income Per Common Share (Narrat

Income Per Common Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock not included in the computations of diluted earnings per share	188,656	22,845	103,553	11,835

Line of Credit (Line of Credit)

Line of Credit (Line of Credit) (Details) - Line of Credit - Amended Revolving Credit Facility - USD ($)	Jan. 27, 2021	Jul. 30, 2022
Debt Instrument [Line Items]
Revolving credit facility maximum borrowings	$ 225,000,000
Line of credit facility, accordion feature, increase limit	$ 150,000,000
Debt instrument, interest rate, increase (decrease)	2%
Minimum availability of aggregate commitments and loan cap required, percent	12.50%
Minimum availability of loan cap after stepdown date required, percent	10%
Period required for availability of loan cap requirement	60 days
Maximum allowed to be borrowed based on available cash balance	$ 50,000,000
Line of credit facility, current borrowing capacity		$ 0
Line of credit facility, remaining borrowing capacity		$ 202,000,000
Minimum Availability Of Aggregate Commitments And Loan Cap Required In Event Of Default Or Availability, Percent	15%
Minimum
Debt Instrument [Line Items]
Commitment fee percentage	1.25%
Maximum
Debt Instrument [Line Items]
Commitment fee percentage	1.75%
Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate on borrowings (percent)	0.25%
Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate on borrowings (percent)	0.75%
LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate on borrowings (percent)	1.25%
LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate on borrowings (percent)	1.75%

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) ft² in Thousands, $ in Millions	6 Months Ended
	Jul. 30, 2022 USD ($) ft²
Purchase commitment, remaining minimum amount committed	$ 22.1
Distribution Center In Indianapolis, Indiana
Area of real estate property (in sqft) | ft²	1,030
Expected payments to purchase land and construct building	$ 60

Share-Based Compensation (2002

Share-Based Compensation (2002 Equity Incentive Plan) (Details) - 2002 Equity Incentive Plan - shares	Jul. 30, 2022	Jun. 14, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (shares)		4,300,000
Stock options and restricted shares available for grant (shares)	3,500,000

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Stock Option Activity Under Plan) (Details) - $ / shares	6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock option maximum term (years)	10 years
Stock option vesting period (years)	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, Balance (shares)	39,763
Options outstanding, Exercised (shares)	(2,952)
Options outstanding, Balance (shares)	36,811
Options outstanding, Exercisable (shares)	36,811
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Balance (dollars per share)	$ 34,480
Weighted average exercise price, Exercised (dollars per share)	22,620
Weighted average exercise price, Balance (dollars per share)	35,430
Weighted average exercise price, Exercisable (in dollars per share)	$ 35,430
Weighted Average Remaining Contractual Term (in years)	1 year 10 months 24 days	2 years 3 months 18 days
Weighted Average Remaining Contractual Term, Exercisable	1 year 10 months 24 days

Share-Based Compensation (Share

Share-Based Compensation (Share-Based Compensation Valuation of Stock Options) (Details)	6 Months Ended
	Jul. 30, 2022 shares
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock options granted	0

Share-Based Compensation (Restr

Share-Based Compensation (Restricted Stock Units and Performance-Based Restricted Stock Units) (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended	53 Months Ended
	Apr. 30, 2022	Jul. 30, 2022	Jul. 31, 2021	Jan. 29, 2022	Jul. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase and retirement of common stock	$ 40,007,000	$ 40		$ 60,000,000	$ 150,000,000
Unrecognized compensation costs related to non-vested share-based compensation		$ 44,900,000			$ 44,900,000
Compensation cost not yet recognized, period for recognition (years)		2 years 4 months 24 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		234,493		254,295	234,493
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price		$ 133.92		$ 126.93	$ 133.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		108,241
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 141.28
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		(112,749)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value		$ 108
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		(15,294)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value		$ 139.47
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)		1 year
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)		4 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		469,180		349,236	469,180
Share-based Compensation Arrangement by Share-based Payment Award, Option, Nonvested, Weighted Average Exercise Price		$ 126.50		$ 163.16	$ 126.50
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		127,598
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 165.90
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		(7,654)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value		$ 161.29
Performance-Based Restricted Stock Units Based On Market Condition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (years)		3 years
Treasury Stoc | Restricted Stock Units And Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Shares		28,832	36,561
Additional paid-in capital
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase and retirement of common stock	$ 40,005,000
Additional paid-in capital | Restricted Stock Units And Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase and retirement of common stock		$ 4,400,000	$ 7,000,000

Share-Based Compensation (Sha_2

Share-Based Compensation (Share Repurchase Program) (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended	53 Months Ended
	Apr. 30, 2022	Jul. 30, 2022	Jan. 29, 2022	Jul. 30, 2022	Jun. 14, 2022	Mar. 09, 2021	Mar. 20, 2018
Share-based Payment Arrangement [Abstract]
Authorized amount					$ 100,000,000	$ 100,000,000	$ 100,000,000
Repurchase and retirement of common stock (in shares)		247,132	368,699	1,100,000
Repurchase and retirement of common stock	$ 40,007,000	$ 40	$ 60,000,000	$ 150,000,000
Average price (dollars per share)		$ 161.88	$ 162.75	$ 161.88

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 30, 2022	Jul. 31, 2021	Jul. 30, 2022	Jul. 31, 2021	Aug. 01, 2020
Income Tax [Line Items]
Income tax expense	$ 14,762,000	$ 20,256,000	$ 24,136,000	$ 33,370,000
Effective tax rate	26.30%	23.80%	24.60%	22.60%
Accrual for uncertain tax, interest or penalties	$ 0	$ 0	$ 0	$ 0	$ 0
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$ 56,106,000	$ 85,097,000	$ 98,198,000	$ 147,807,000
Minimum
Income Tax [Line Items]
State income taxes, statute of limitations period (years)			3 years
Maximum
Income Tax [Line Items]
State income taxes, statute of limitations period (years)			4 years